Canna Law Blog

NOVEMBER 16, 2023

We are helping build out another cannabis banking program here in Oregon. We have also handled a good bit of hemp banking work – mostly in 2019 and 2020 before that industry cratered. That’s banking. Cannabis dispensaries, cultivators, processors and testing facilities all fall under this definition.

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MaxQ Cannabis

FEBRUARY 3, 2023

The SAFE Banking Act, also known as the Secure and Fair Enforcement Banking Act, is proposed legislation that aims to provide legal protection for financial institutions that work with cannabis-related businesses.

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Banking Legislation Business Legalization 131

Dykema (Cannabis Law Blog)

SEPTEMBER 21, 2023

As readers of this blog and the cannabis industry are aware, the conflict between state and federal law on the issue of cannabis is a constant source of tension, struggle, and frustration for the cannabis industry, their employees, and those who provide services to the industry.

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NORML

JULY 23, 2019

Earlier today, the Senate Banking Committee held a hearing on the SAFE Banking Act, which would allow financial institutions to engage in activities with state-legal cannabis businesses. The hearing was entitled, “Challenges for Cannabis and Banking: Outside Perspectives.”

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Leafly

MAY 2, 2022

Banks in Canada continue to discriminate against cannabis clients in spite of legalization (unless you can pay-to-play). The post Despite federal legalization, banks in Canada still won’t work with weed appeared first on Leafly.

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Cannabis Life Network

FEBRUARY 14, 2023

The cannabis industry is suing Canadian banks. Canada’s legal cannabis industry has launched a class-action lawsuit against Canada’s large cartel of banks. They allege the banks have discriminated against them by arbitrarily closing accounts and denying services and access to credit.

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NORML

MAY 12, 2020

Included in the language of the bill is HR 1595: The SAFE Banking Act, which amends federal law so that explicitly banks and other financial institutions may work directly with state-legal marijuana businesses. In the majority of states, these cannabis businesses have been deemed essential during this pandemic.

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Cannabis Life Network

SEPTEMBER 28, 2023

The SAFER Banking Act has passed a critical Senate Committee hearing with a vote of 14-9. The renamed bipartisan bill would allow banks to work with cannabis businesses without penalties from the federal government. cannabis industry has long been waiting for SAFER Banking to pass the Senate.

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Leafly

JUNE 27, 2022

The new CLIMB Act would help cannabis businesses access banking services, and list on the stock exchange. The post Meet the CLIMB Act, a new bipartisan cannabis banking bill appeared first on Leafly. It emphasizes small, minority-owned businesses.

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Canna Law Blog

SEPTEMBER 12, 2023

Major banks like JPMorgan Chase and Wells Fargo, as well as landlords such as BentallGreenOak and Ashkenazy Acquisition Corp., have found themselves indirectly involved with New York City’s unlicensed cannabis dispensaries, potentially exposing them to legal issues. Signature Bank, Bank of America Corp.,

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Veriheal

APRIL 14, 2022

Banking has been a hurdle for cannabis businesses since the birth of the industry. Despite the fact that these businesses are state-legal, financial institutions have historically hesitated to work with them due to cannabis’ federally illegal status. A Long Road to Cannabis Banking Reform.

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Cannabis Law Report

AUGUST 5, 2021

Here’s the press release… National Law Journal’s 2020 Cannabis Trailblazer Katrina Skinner to Help Lead Company’s Legal Matters and Expansion into Banking, Financial and Payment-Related Services and Solutions for Cannabis Businesses and Related-Banking and Financial Sectors.

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Cannabis Life Network

DECEMBER 7, 2022

United States Congress has declined to include cannabis banking in the NDAA (National Defense Authorization Act). The post Cannabis Banking Left out of NDAA appeared first on Cannabis | Weed | Marijuana | News. The NDAA is an annual congressional bill guiding policies and funding of federal military agencies.

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Banking Policy Cannabis Marijuana 81

Veriheal

MAY 5, 2023

A study looked at the link between psychedelics and spirituality, Minnesota is closing in on recreational cannabis, and Montana is looking to make cannabis banking easy. Cannabis Bill Minnesota residents received some thrilling news this week as the state Senate passed a bill to legalize recreational cannabis.

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NORML

MARCH 8, 2019

A bipartisan coalition of more than 100 co-sponsors has reintroduced legislation in Congress, The Secure and Fair Enforcement Banking Act (SAFE Banking Act), HR 1595 , to allow state-licensed marijuana-related businesses to engage freely in relationships with banks and other financial institutions. This situation is untenable.

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Cannabis Law Report

AUGUST 17, 2022

Ohio State Legal Studies Research Paper No. According to its sponsors and supporters, the Safe and Fair Enforcement (‘SAFE’) Banking Act would help address the challenges faced by small cannabis businesses that cannot currently access banking services or loans. Ohio State Legal Studies Research Paper No.

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Cannabis Law Report

SEPTEMBER 8, 2021

A lot of people are unaware that cannabis businesses still have a hard time finding banking solutions. Banks don’t want to work with these businesses because the federal government has not legalized marijuana yet. This means that there can be difficulty with finding cannabis banking solutions for your business.

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NORML

MAY 13, 2022

A bipartisan group of 24 Senators stood up for public safety and for greater economic opportunities for legal cannabis businesses today by sending a letter to leadership in both chambers of Congress asking them to include cannabis banking reform language in broad legislation currently being debated in conference committee.

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Canna Law Blog

SEPTEMBER 18, 2023

I’m pretty sure that more ink has been spilled on the Secure and Fair Enforcement Act (“SAFE Banking”), than any other proposed cannabis law. Specifically, SAFE Banking was introduced in 2017 and it passed the House seven times (seven times!) SAFE Banking will finally go to mark-up this week in the Senate Banking Committee.

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Banking Access Business Compliance 82

Leafly

JULY 21, 2019

It can cost $2 million to open a licensed cannabis store. And not a bank in the nation will offer a small business loan. The post Banks Are Redlining the 99% Out of the Legal Cannabis Industry appeared first on Leafly.

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Banking Legalization Business Cannabis 111

Leafly

MAY 16, 2022

The post SAFE Banking has ‘perfect opportunity’ to pass in Congress soon, says legalization leader appeared first on Leafly. Cash only' rules have led to armed robberies and murder. Now Congress has its best chance to pass desperately needed reform.

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Banking Legalization Cannabis 98

Cannabis Law Report

SEPTEMBER 28, 2021

National Law Journal’s 2020 Cannabis Trailblazer Katrina Skinner to Help Lead Company’s Legal Matters and Expansion into Banking, Financial and Payment-Related Services and Solutions for Cannabis Businesses and Related-Banking and Financial Sectors. Says the headline. Here’s the full press release.

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Canna Law Blog

FEBRUARY 28, 2022

Guidance on banking and MRBs. I’ve written that in cannabis years, the FinCen Memo is as old as dirt and reads like a relic of a bygone era. Department of Justice on “Marijuana Related Financial Crimes” was rescinded in 2018 , the FinCen Memo has been the only game in town for federal banking guidance. Allow me to explain.

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Banking Business Marijuana Hydroponic 98

Cannabis Law Report

APRIL 27, 2023

SENATOR’S SAFE BANKING ACT WOULD ALLOW LEGAL CANNABIS BUSINESSES TO ACCESS BANKING SERVICES SUCH AS LINES OF CREDIT, SAVINGS AND CHECKING ACCOUNTS U.S.

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Banking Access Business Legalization 52

Canna Law Blog

DECEMBER 6, 2022

As we blogged about last week, the SAFE Banking Act is trying to claw its way back from the dead during this lame duck session of Congress. Interestingly, on December 2, Punchbowl News reported that the Department of Justice (DOJ) issued a memo outlining its “issues” with the SAFE Banking Act. Section 280E.

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Canna Law Blog

NOVEMBER 8, 2023

I’ve been representing clients in California’s cannabis industry since 2018. One of the most common mistakes we see in new cannabis markets is businesses that rely too much on federal legalization happening. DEA has not formally acted on the recommendation, and cannabis remains on Schedule I for now.

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Cannabis Law Report

DECEMBER 2, 2021

The American Bankers Association and 51 state bankers associations today urged Senate leadership to include the SAFE Banking Act in the upcoming National Defense Authorization Act. Joint ABA SBA Letter to Senate SAFE Banking Act NDAA 12022021. ABA, State Associations Call for Inclusion of Cannabis Banking Bill in NDAA.

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Banking Safety Business Law 105

MJ Business Attorneys

MAY 31, 2019

The California Legislature passed Senate Bill 51 last week, allowing California state-chartered banks and credit unions to provide banking services for the states’ cannabis businesses. What’s the next step for California licensed cannabis business? The banking struggle is not limited to California.

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Banking Business Cannabis Safety 100

Canna Law Blog

MARCH 13, 2023

The Safe Banking Act , also known as the Secure and Fair Enforcement Banking Act (SAFE Banking Act), is sorely needed legislation to address the critical issue of financial services being denied to marijuana businesses that operate in the state-legalized industries. What is the SAFE Banking Act?

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Banking Business Safety Legislation 81

Cannabis Law Report

FEBRUARY 12, 2023

10, 2023 /CNW Telbec/ – Groupe SGF (Cannabis Legal Advisors and Consultants) announces the launch of a class action lawsuit on behalf of Mr. Gabriel Bélanger (Founder of Origami Extraction Inc.) against the Desjardins Federation, National Bank, Royal Bank, Bank of Montreal, TD Bank, and CIBC.

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Banking Legalization Law Extraction 52

The Fresh Toast

JUNE 26, 2023

Exclusive: #3 In Senate Talks About Safe Banking Patty Murray, the number 3 in the Senate, shared her view on Safe Banking and the marijuana industry. The post Exclusive: #3 In Senate Talks About Safe Banking appeared first on The Fresh Toast.

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Cannabis Life Network

DECEMBER 22, 2022

Proponents weren’t aiming for a hat trick, but that’s precisely what they got when the SAFE Banking Act failed a third time in the US Senate. The SAFE Banking Act is legislation that aims to provide a framework for regulating financial institutions serving the cannabis industry.

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Cannabis Law Report

DECEMBER 2, 2022

Department of Treasury) just released its latest report on cannabis banking information. Although the banking situation for legal cannabis businesses hasn’t necessarily gotten worse, things are still not looking great for the financial health of the cannabis industry. The takeaway?

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Banking Cannabis Business Legalization 52

Canna Law Blog

AUGUST 17, 2023

Oregon’s governor recently vetoed an effort to create a state bank for marijuana businesses, in another blow to the struggling industry. The lack of consistent, equitable access to banking has been recurring issue for Oregon marijuana businesses and those in other states.

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Banking Marijuana Legislation Business 52

Cannabis Law Report

APRIL 14, 2021

Marijuana possession and recreational use were legalized in New York, the banking capital of the United States. This has banks… Read More.

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Cannabis Law Report

JANUARY 21, 2021

The world of banking Cannabidiol (CBD) businesses is a chaotic one. Despite the legalization of hemp and hemp-derived products under… Read More. The post CBD Banking: Three Trends and Predictions for 2021 first appeared on Cannabis Law Report.

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Veriheal

OCTOBER 30, 2023

In 2018, the leaders of 19 Caribbean nations decided that they would “review marijuana’s current status with a view to reclassification” The leaders emphasized the importance of these cannabis legalization bills as a tool for social justice and economic gain. Recently, The Bahamas’ made good on that 2018 promise.

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